Here’s Why JPMorgan Analysts Are Still Bullish On The Bitcoin Price After Crashing Below $100,000
The recent has sparked widespread concern across the crypto market, but major institutional players like JPMorgan remain unshaken. According to reports, have issued a surprisingly bullish outlook for Bitcoin, forecasting a potential surge to $170,000 in the near future. The bullish prediction has caught the attention of the broader crypto market, especially as continue to test investor sentiment and push prices down.
JPMorgan Maintains Bullish Bitcoin Price Outlook
Eric Balchunas, a Senior ETF analyst at Bloomberg, recently insights from JPMorgan’s analysts, led by Managing Director Nikolaos Panigirtzoglou, who presents a compelling In one of their research notes, the bank’s analysts argue that Bitcoin’s current market value is compared to gold.
They suggest that once leverage conditions normalize, the leading cryptocurrency could climb toward $170,000. Notably, they expect BTC to reach this bullish target within the next 6-12 months, representing a 65.9% increase from its current price level of just over $102,400.
The analysts emphasized that the broader crypto market has already undergone a near 20% correction from previous highs, primarily driven by massive . The largest wave was observed on October 10, following of aggressive tariffs against China, which triggered record liquidations that wiped out billions of dollars in leveraged positions across exchanges—the largest such event in the history of crypto.
Leaving the crypto market with no room for a recovery, another occurred on November 3, deepening the correction after a reignited fears over DeFi protocol security. However, despite this widespread volatility and market downturn, JPMorgan analysts remain bullish on Bitcoin, likely viewing these liquidation events as necessary purges that have flushed out excessive speculation.
The analysts believe that perpetual deleveraging has finally come to an end, opening a potential path for more stable institutional accumulation. They suggest that and strengthen considerably from now to October 2026, supporting the bullish projection of a possible rally to a new all-time high.
Market Analysts Share Similar Optimistic Predictions
Crypto market analyst Sulianto Indria Putra’s latest technical analysis echoes bullish optimism for Bitcoin’s price outlook. He that the cryptocurrency’s weekly chart shows the 50-week Exponential Moving Average (EMA) continuing to act as a strong cyclical support level. Each time BTC has touched this EMA in , it has historically rebounded with strong upward momentum.
Based on the analyst’s chart, Bitcoin trades around $102,400, just above the at approximately $100,900, where price action shows consolidation rather than breakdown. Putra argues that this positioning indicates that the market is forming a higher low within an ongoing bull trend. Despite and price declines, the analyst maintains that Bitcoin could still rally significantly to $150,000 between late 2025 and early 2026.
